Indian Market:
Nifty has been facing lot of selling pressure whenever it tests 6200 level but it has still been maintained a range of 6100-6200.
India-focused mining group Vedanta, which posted mixed second quarter output data, has postponed the expansion of aluminium operations after the Indian government rejected a plan to mine the raw material to make the metal.
Novelis Inc, the US-based aluminium cans maker owned by the Aditya Birla Group, is reportedly in talks to buy BP Plc's 60% stake in its US joint venture, Logan Aluminium, for $600 million in an all-cash deal.
Global Cues:
Asian stocks were mixed on Thursday. The key benchmark indices in Singapore, South Korea and Indonesia fell by between 0.19% to 0.55%. But, the key benchmark indices in Taiwan, Japan and Hong Kong rose by between 0.12% to 0.32%.
European shares turned positive in mid morning trade on Thursday, in a choppy session as investors await interest rate decisions and policy indications from the Bank of England and the European Central Bank.
The IMF on Wednesday, 6 October 2010, said Asia faces policy challenges as capital flows to the region increase, raising the risk of inflation, asset price bubbles and financial sector instability. It estimates that capital inflows to emerging Asia in the past 12 months more than quadrupled from 2008 levels.
Nifty has been facing lot of selling pressure whenever it tests 6200 level but it has still been maintained a range of 6100-6200.
India-focused mining group Vedanta, which posted mixed second quarter output data, has postponed the expansion of aluminium operations after the Indian government rejected a plan to mine the raw material to make the metal.
Novelis Inc, the US-based aluminium cans maker owned by the Aditya Birla Group, is reportedly in talks to buy BP Plc's 60% stake in its US joint venture, Logan Aluminium, for $600 million in an all-cash deal.
Global Cues:
Asian stocks were mixed on Thursday. The key benchmark indices in Singapore, South Korea and Indonesia fell by between 0.19% to 0.55%. But, the key benchmark indices in Taiwan, Japan and Hong Kong rose by between 0.12% to 0.32%.
European shares turned positive in mid morning trade on Thursday, in a choppy session as investors await interest rate decisions and policy indications from the Bank of England and the European Central Bank.
The IMF on Wednesday, 6 October 2010, said Asia faces policy challenges as capital flows to the region increase, raising the risk of inflation, asset price bubbles and financial sector instability. It estimates that capital inflows to emerging Asia in the past 12 months more than quadrupled from 2008 levels.
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